Competitive Analysis Framework · CHAPTER 3 OF 6
Selecting and understanding competitors
Competitor 2
Competitor 3
Competitor 1
Identify the Right Competitors First
Start by finding products that solve the same or similar problem as the software you are redesigning.
For example, if you are redesigning HR software, start by searching for HR software on Google.
Identify the Right Competitors First
Start by finding products that solve the same or similar problem as the software you are redesigning.
For example, if you are redesigning HR software, start by searching for HR software on Google.
Competitor 2
Competitor 3
Competitor 1
Validate Competitors With Context
Validate Competitors With Context
Find Competitors From Multiple Sources
Search through Google, competitor websites, product videos, YouTube demos, help docs, AI tools, and global benchmarks.
AI can help you create the first list, but always validate each competitor manually.
Aim to identify and validate at least 6 to 8 relevant competitors.
Find Competitors From Multiple Sources
Search through Google, competitor websites, product videos, YouTube demos, help docs, AI tools, and global benchmarks.
AI can help you create the first list, but always validate each competitor manually.
Aim to identify and validate at least 6 to 8 relevant competitors.
Classify Competitors Before Comparing Them
Direct
Competitors
Indirect
Competitors
Classify Competitors Before Comparing Them
Direct Competitors
Indirect Competitors
Competitor List:
Understand How Competitors Actually Work
Once the competitor list is ready, study each product in depth.
Competitive analysis is not just software vs software.
It is about understanding how competitors structure modules, navigation, workflows, pricing, positioning, and user experience.
This shows how the market solves similar problems.
Understand How Competitors Actually Work
Once the competitor list is ready, study each product in depth.
Competitive analysis is not just software vs software.
It is about understanding how competitors structure modules, navigation, workflows, pricing, positioning, and user experience.
This shows how the market solves similar problems.
Competitor List:
Study the Software in Action
Study the Software in Action
Learning From Product Tutorials
While redesigning HR software, we found detailed tutorial videos for one HR platform.
These videos helped us understand how different modules worked, including employee hierarchy, client onboarding, software setup, and leave workflows.
This gave us a clearer picture of how HR workflows are handled in the market.
BambooHR Product tutorial
BambooHR
Learning From Product Tutorials
While redesigning HR software, we found detailed tutorial videos for one HR platform.
These videos helped us understand how different modules worked, including employee hierarchy, client onboarding, software setup, and leave workflows.
This gave us a clearer picture of how HR workflows are handled in the market.
BambooHR Product tutorial
BambooHR
When Videos Are Not Enough
For another HR platform, the available videos only gave a high-level overview.
They were not enough to understand the navigation or complex workflows.
So we booked a product demo to study it properly.
In B2B SaaS, demos often reveal what marketing pages cannot.
When Videos Are Not Enough
For another HR platform, the available videos only gave a high-level overview.
They were not enough to understand the navigation or complex workflows.
So we booked a product demo to study it properly.
In B2B SaaS, demos often reveal what marketing pages cannot.
Use Previous Research to Know What to Observe
Use Previous Research to Know What to Observe
Example
Example
Collect Resource While Studying
Collect Resource While Studying
Compare to Learn, Not Copy
The goal is not to imitate competitors.
We study competitors to understand market standards, common workflows, useful patterns, and product gaps.
Compare to Learn, Not Copy
The goal is not to imitate competitors.
We study competitors to understand market standards, common workflows, useful patterns, and product gaps.
